LIWA PLASTIC INDUSTRIES COMPLEX (LPIC)

TECNIMONT SACE PRESENTATION

Italy - Milan, May 30th 2016

LIWA Plastics Project: Key features

A landmark project for Oman

Sponsor: Orpic (owned by the government of the Sultanate of Oman)
Greenfield $6.5 billion petrochemical complex in the Sohar Industrial Port
Complex in Oman
The project will have massive economic benefits for the Omani economy
including economic diversification for the country
Strong Omani Government support
Fully integrated olefin petrochemical complex to produce 1.1 million tonnes per
annum of High Density Polyethylene (HDPE), Linear Low Density Polyethylene
(LLDPE) and Polypropylene (PP) primarily for export markets
Contractors:
CB&I/CTCI Corp. (ethylene mixed feed steam cracker)
Tecnimont (polymer plant)
GS E&C Corp. / Mitsui (natural gas liquids extraction plant)
Punj Lloyd (gas pipeline)
May 2016

Project Location

Tecnimont Project Overview

Owner: ORPIC PLASTIC LLC - OMAN
Scope of Work: EPC (Startup and Performance Test included)
Plant: 1 PP x 300 KTA + 2 HDPE/LLDPE x 440 KTA + U&O
Licensors: directly managed by Tecnimont
Lyondell Basell: Polypropilene (Spheripol)
Univation: Polyethylene
FEED Engineers: CBI
Contract: LSTK AMOUNT 890 ML USD Covered by a Project Financing scheme
Schedule: Facility IAC (Initial Acceptance Cert.) Month 44 from May 4th 2016
Warranty Period: 12 Months from IAC (Initial Acceptance Certificate)
LIWA PLASTIC INDUSTRIES COMPLEX (LPIC)

Project Overview

Liwa Plastics Industries Complex

LPIC
GS Engineering
NGL

EPC 3
FAUD

CBI-CTCI JV
PUNJ LLOYD

CRACKER

EPC 1
SOHAR

PIPELINE
EPC 4

hydrogen

power
steam

Propylene

Ethylene

400 km FAUD - SOHAR

1 x PP + 2 x PE
EPC 2
SOHAR

TECNIMONT

LIWA PLASTIC INDUSTRIES COMPLEX (LPIC)

Tecnimont Scope of Work PP Unit

LIWA PLASTIC INDUSTRIES COMPLEX (LPIC)

Tecnimont Scope of Work - Schedule

Initial Accept.
Final Accept

Project Effective Date

May 4th 2016

PP

Unit IA
EP + Construction

Com

PE1

EP + Construction

PE2

EP + Construction

44 M

Test
Run

WP

Test
Run

Com

Com

Unit FA

WP
Test
Run

WP

12 M

Material purchasing window: Aug.2016 Dec.2017

LIWA PLASTIC INDUSTRIES COMPLEX (LPIC)

Financing Figures

A multisource ECA financed transaction

$3.8 billion senior debt including $2.38 billion of ECA debt (mix self-funded and
covered commercial debt)
Completion of the financing is a landmark in project financing in Oman, and also
in the Middle East as a whole
19 commercial banks and 6 ECAs involved:
SACE - $840 million
Atradius DSB - $586 million
Liwa Plastics
Industries Complex
K-EXIM - $360 million
USD 3,800,000,000
K-Sure - $300 million
SACE guarantee
Euler Hermes - $137 million
USD 840,000,000
Oman
UKEF - $157 million
Signing occurred on 3rd March 2016
May 2016

Italy in the LIWA Plastics Project

Tecnimont and SACE for Italian content

SACE total facility is covering two EPC packages awarded to CB&I/CTCI Corp.
and Tecnimont
Tecnimont contractually committed through ORPIC to make available a SACE
covered facility of at least $608,000,000 (without considering IDC and SACE
premium)
The total amount of procurement and sub-contracts for equipments and
materials is expected to be in the range of $400,000,000, Tecnimont expects that
a considerable portion of it will be awarded to Italian companies
Tecnimont will undertake an accurate exploration of the whole Italian market in
order to obtain the best supplies from Italian exporters in terms of quality and time
of delivery and thus maximize the Italian content

May 2016